India’s startup ecosystem has been one of the biggest success stories in the global innovation economy. From tech unicorns to new-age D2C brands, the past decade has seen extraordinary entrepreneurial momentum. But as the ecosystem matures, some growing pains have become more visible—especially around financial discipline and long-term sustainability.

The recent insolvency plea against GlobalBees, and earlier financial troubles at BYJU’S, have sparked important conversations about how even well-funded and celebrated startups are navigating today’s tighter capital environment. These developments aren’t signs of collapse—but of evolution. And they underline…

Josh Leeson is a news and features journalist, who focuses on Lake Macquarie, politics and entertainment at the Newcastle Herald. He first joined the masthead in 2008 after stints at the Namoi Valley Independent and Port Stephens Examiner and has previously covered sport, including the Asian Cup, A-League, Surfest, cricket and rugby league.

Josh Leeson is a news and features journalist, who focuses on Lake Macquarie, politics and entertainment at the Newcastle Herald. He first joined the masthead in 2008 after stints at the Namoi Valley Independent and Port Stephens Examiner and has previously covered sport, including the Asian Cup, A-League, Surfest, cricket and rugby league.

Insolvency tremors have hit yet another player in India’s startup ecosystem. This time, it’s GlobalBees—the high-profile, Thrasio-style startup known for acquiring and scaling D2C brands. Surprisingly, the blow hasn’t come from a disgruntled vendor or market pressures, but from within its own investment circle.

Kuber Mart Industries, a company that GlobalBees had backed with ₹50 crore in 2022, has now dragged it to the National Company Law Tribunal (NCLT), alleging a default of nearly ₹65 crore. The development adds to a series of internal shake-ups and growing concerns over the stability of roll-up commerce ventures in India.

Here’s a detailed look at…

National Company Law Tribunal, Mumbai: In an application filed by the Resolution Professional (‘the RP’) for Vijay Suraksha Realty LLP (‘the Company’) under Section 7 of the Insolvency and Bankruptcy Code, 2016 (‘IBC’) seeking exclusion of 854 days and an extension of 60 days, the Two-Member Bench of Lakshmi Gurung ,Judicial Member and Hariharan Neelakanta Iyer, Technical Member, allowed the application, considering that the resolution plans were under active consideration and grant of the extension would result in the RP filing the plan approval application.

Background

It was contended that the RP, had filed two interlocutory applications (‘IAs’) under Section 19 of the IBC before the NCLT since the suspended director…

Declaring bankruptcy could affect your pension savings in a variety of ways, depending on how you saved, how much you have and when you last put money away. Experts at PensionBee have broken down the details, as meeting some simple criteria could actually mean your retirement fund is off limits to authorities.

When you declare bankruptcy, meaning creditors can’t pursue you directly for a debt you can’t afford to pay back, your entire financial situation is evaluated by the Trustee in Bankruptcy (TIB). It decides which of your assets, such as cars, property or savings, could be used to pay off your debts.

Pensions are usually protected from the TIB – especially if it has a forfeiture clause which automatically applies to workplace…

About 140 people across Australia have been immediately sacked following the sudden collapse of Australia’s largest distributor of second-hand office furniture.

Staff at furniture company Egans received a text message on Friday morning telling them to attend a compulsory all-staff meeting, where they were told they no longer had jobs.

“Notice of important company announcement,” the text message read.

“Do not go to job site first.”

In a statement to news.com.au, Director Andrew Egan said the company had faced “pervasive cost increases” and a “revenue slump” which was affecting “every business in Australia”.

The company has staff across NSW, Victoria and South Australia.

“Egans is a family business that has been…

Please note that by blocking any or all cookies you may not have access to certain features, content or personalization. For more information see our Cookie Policy.

To enable cookies, follow the instructions for your browser below.

Facebook App: Open links in External Browser

There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a defect in the browser which should be addressed soon. The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser. This can be done through the following steps:

1. Open the settings menu by clicking the hamburger menu in the top right

2….

Stricken wide-format supplies business Starleaton has finally been placed into liquidation, with the company not making any of its $33,000 a month payments required under its DOCA for the past three months.

The former $20m a year family-owned national business initially placed itself into voluntary administration in January last year, and then successfully gained its DOCA (deed of company arrangement) two months later.

Starleaton went into administration with debts totalling $17.5m, and with only $1.93m in realisable assets, unsecured creditors were facing the prospect of zero cents in the dollar on their outstanding invoices. Trade creditors were owed…